Hawaii is seen nationally as one of the troubled hotel loan hotspots, with no less than a dozen hotels in some stage of distress. Real Capital Analytics, a New York-based commercial real estate research firm, has identified $2.09 billion of troubled hotel loans in the Aloha State.

The average debt per property is $174.4 million, the highest nationally. The next highest state on Real Capital’s list is Nevada, where distressed loans average about $32 million less than in Hawaii.

Ben Thypin, a Real Capital senior market analyst, says Hawaii’s status is a function of the value and size of hotels here, not because of the number of properties involved. Nevada, for example, has 59 hotels where financial woes have checked in, while California has 239.

Nonetheless, Hawaii hotels are on the list and are part of the $32.3 billion of distressed-hotel debt nationally. Thypin says it will most likely take years for the situation to resolve as owners, lenders, special servicing agents, receivers and lawyers huddle.

Hawaii is a good place to visit, if you are planning to United States then you should also visit this beautiful place.

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Ben Carlos Thypin

I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.